Instinet Appointed Clearing Agent for IntelligentCross

Instinet announced that the firm has been appointed Clearing Agent for IntelligentCross, an AI-powered ATS equity trading platform that has seen strong growth since its 2018 launch by Imperative Execution. Instinet will support the day-to-day execution process by clearing and settling trades on IntelligentCross. This calendar year has seen trading and its associated clearing and settlement volumes more than triple versus previous peaks. Instinet’s global clearing and settlement team scaled out their technology and processes accordingly. The increasing complexity, regulatory reporting requirements, settlement speed and scale demanded in the equities industry over the last several years has been further challenged by the pandemic-driven shift to working from home. Instinet’s clearing and settlement processes were able to capitalize on the natural advantages offered by its technology infrastructure, broad global network, agility and scale, even in this dispersed operating environment.